Reliance Brands, a big retail company, just did something important. They joined hands with Superdry, a famous fashion brand from the UK. This means Reliance Brands now owns a lot of Superdry’s stuff in India. The deal is like a partnership, with Reliance Brands having a big share of 76% and Superdry keeping 24%.
Details of the Deal
Reliance Brands’ part in the deal is through their UK company, RBUK. They paid around £40 million (which is about Rs 404 crore) to own Superdry’s ideas and things in India, Sri Lanka, and Bangladesh. Superdry gets around £30 million (about Rs 307 crore) from this, after taking out some fees and taxes.
Money Matters
This deal shows that Superdry’s stuff in India is super valuable. The money part is a big deal, and Superdry is getting a good chunk of it. It shows that both Reliance Brands and Superdry believe in the future success of Superdry in India.
Big Plan and Growing
Reliance Brands, headed by Mukesh Ambani, has a strategy. They want to take advantage of more and more people in India who are buying things. They think teaming up with Superdry is a good idea. Right now, Superdry is in 50 cities in India and a lot more places online. This makes Superdry the biggest in the world when it comes to selling Superdry stuff in different places.
Happy People and Working Together
The boss of Reliance Brands, Darshan Mehta, is very happy about this deal. He thinks it’s a great team effort with Superdry. Superdry also likes the idea. They want to keep helping Superdry in India with their special skills in making things look good and telling people about them.
What’s Next and More Plans
This deal is just the start. Both Reliance Brands and Superdry want to work even more together. They want to make things that Indian people really like, find new ways to sell them, and make sure it doesn’t cost too much. They’re also planning to spend money to make Superdry even cooler in India. Superdry started in India in 2012, and now, with Reliance Brands, they’re thinking big.
CEO’s Thoughts and Friendship
The big boss of Superdry, Julian Dunkerton, believes this friendship with Reliance Brands will make Superdry a big deal in India. He trusts Reliance, and they’ve been friends for a long time. This means they understand each other well, and Superdry can use this to do well in the Indian fashion world.
Conclusion
Reliance Brands Buying Superdry’s special things for India is like a big move in a game. It’s not just about money; it’s about working together to make Superdry even more popular in India. Both companies are excited about the future, and people in India can look forward to more cool Superdry stuff in their cities and online